Want To Buy A Home But Can’t Because of Student Debt?

Chicago suburbs, by flikr user Scorpions and Centaurs

American student loan debt totals nearly one trillion dollars. These loans break down to about $23,300 owed by each borrower. Changing Gears has been reporting on the effects of that debt and what it takes to pay it off.

We want to know how student debt affects big purchasing decisions. Are you ready to buy a house? And if so, can you get a mortgage?

Tell us how student debt affects your housing plans.

Student Debt: When Fixing Cars Breaks The Bank

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Victor Gregory teaches high schoolers about cars. He worries when they take on debt after graduation.

Americans owe close to a trillion dollars in student loan debt.  Changing Gears has been reporting on that debt, a lot of which comes from attending private, for-profit schools.  They’re the fastest growing part of higher education, popular for non-degree technical training.  Call them career colleges, technical schools or trade schools … just don’t call them cheap.

Fact: For-profit schools cost more than community colleges.  Fact: For-profit students borrow more, then default more than students from public colleges.  Fact:  All this explains why I ended up at the strip club in Detroit.

So I’m at Cobra’s the Grind, eyes-avoiding-buttocks, walking up dimly lit stairs to meet the manager. Steve is a big guy; he started here as a bouncer. He lays his gun down next to us as we talk.  He had different life plans after graduating high school in 2006. Continue reading “Student Debt: When Fixing Cars Breaks The Bank”

The Rise Of The Reverse-Transfer In American Colleges

More than half of students who transfer from four-year public universities head to two-year community colleges.

Today, Changing Gears’ Kate Davidson has the first in a two-part report on the growing burden of student debt.

We typically think that going to college is all about getting that four-year degree. And we see community colleges as a stepping stone to get there. But a new report released yesterday shows that’s not the path for many college students in America.

In fact, a surprisingly large number of students actually transfer from four-year institutions into two year community colleges.

Continue reading “The Rise Of The Reverse-Transfer In American Colleges”